Date: 11 months ago   Category: Financial

Oil has risen in price to a monthly maximum


Brent crude oil has exceeded 78 dollars for barrel, and WTI trades above 70 dollars. So the market reacts to reduction of stocks in the USA. At the auction on Thursday, August 30, the price of oil of the WTI brand for the first time since July 31 has exceeded $70 for barrel - a maximum since the end of last month. At the same time Brent is trading on a maximum from the middle of July. The cost of November futures for the North Sea oil mixture of the Brent brand grew for 0,75%, up to $78,03 for barrel. The cost of October futures for WTI crude oil has grown by 0,69%, up to $70,08 for barrel. Thus, participants of the oil market continue to react positively to falling of reserves of fuel in the USA. We will remind, the USA is going to sell 11 million barrels of oil from strategic stocks. It is already the second time when the American authorities open the oil reserves which have been created as opposed to the Arab producers after the first oil crisis of 1973-74. For the first time the oil reserve has been involved in 1991, during the war in the Persian Gulf. Reserves of the USA are the world's largest. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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